GBPUSD Feb 14 to Feb 18 Outlook

By News Robot

Lawrence’s Comment

As predicted last week, the pair failed to take out the resistance zone and is forced to go lower. The whole week is just 50% of the range established from the week before last week. That is usually what happen when the pair itself has strong upside bias but one side of the pair (in this case USD) is showing signs of major reversal across the board.

If B-0 is taken out swiftly and turns into support (i.e. 1-2-3 buy off B-0 on hourly is one of the best scenarios), B+1 and then B+2 are in play.
If B-1 is taken out and turns into resistance, B-3 is the 1st target.


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